Beef Is a Normal Good

question 102

Multiple Choice

Beef is a normal good. You observe that both the equilibrium price and quantity of beef have risen over time. Which of the following would be most consistent with this observation?

• A)Consumers have experienced an increase in income and beef-production technology has improved.
• B)The price of chicken has risen and the price of steak sauce has fallen.
• C)Consumer tastes have changed so as to prefer beef less than before.
• D)The demand curve for beef must be positively sloped.

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